Market Snapshots

Copper Wave Analysis – 2 June, 2020

Copper Wave Analysis – 2 June, 2020

• Copper broke resistance level 246.40

• Likely to rise to 253.00

Copper recently broke through the key resistance level 246.40 (which stopped the previous short-term impulse wave (iii) earlier this month).

The breakout of the resistance level 246.40 is aligned with the active short-term impulse wave (c) which belongs to the ABC correction (4) from the middle of March.

Copper is expected to rise further toward the next resistance level 253.00 (target price for the completion of the active ABC correction (4)).

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